Disaster Recovery Appraisals in New Orleans
Trust the Consulting & Contracting Professionals in Louisiana
Did you know that you must comply with your insurance company’s terms before hiring a lawyer? If your insurer has agreed to pay you for damages after a loss of property, but you do not agree with the payment being offered, your policy provides an alternative, known as the appraisal provision. By pursuing this alternative, you can avoid the cost and time associated with lawyers and lawsuits. The appraisal provision can help you settle your dispute of value, not of coverage.
Call (504) 608-1770 with any questions you may have about seeking an appraisal. Our New Orleans claims consultants are here to help you get what you deserve for your property loss.
How the Process Works
As a tool that is meant to limit lawsuits, an appraisal is a type of binding arbitration amidst a panel of three parties. One party is the appraiser that you choose. The second is the disinterested party, one that is chosen by your insurer, but cannot take any directions from them. The third party is the referee or umpire, who serves as the unbiased party. The umpire party is the one that both appraisers agree is capable of hearing out any disagreements that the two parties may have.
There are some necessary steps that need to be taken in order to determine the parties. They are as follows:
- Let your insurer know that you are triggering the appraisal provision
- Send your insurer the contact information of your appraiser
- Your insurer needs to name their disinterested party within 21 days
- The two appraisers have 16 days to choose an umpire, or one will be chosen by the local judge
Each of these parties has to hire someone at their own expenses to come up with a damage and cost analysis. In order to determine a settlement, the appraisal must have two out of three signatures from the parties.
Why Many Louisiana Clients Prefer Appraisals
You typically only need a lawyer if your claim was denied or the statute of limitations has left you short on time. The appraisal process is a much faster and more cost-effective process than litigation. A lot of the times, individuals who choose to seek out a lawyer come to realize that unless their lawyers focus on property casualty law, they may not understand the seriousness of your loss. Claims Consulting & Contracting can serve as an appraiser and an umpire in any claim, no matter what state you’re in. Reach out to our experienced New Orleans claims consultants today for trustworthy services that have been recognized and approved by the insurance commissioner.
Our team of Louisiana professionals can provide you with the assistance you need to get the compensation you deserve. Contact us at (504) 608-1770 to learn more about how we can help you in the appraisal process.